8.48-Carat Ruby Ring Gifted to Italy’s Last Queen Expected to Challenge Auction Record at Sotheby’s Geneva

An exceptional ruby-and-diamond ring once owned by Marie José — the last Queen of Italy — is expected to challenge the price-per-carat record for a ruby when it goes under the hammer at Sotheby’s Geneva on November 11.

The Burmese ruby, weighing 8.48 carats, carries a pre-sale high estimate of $9 million ($1.06 million per carat). If the ring ends up selling for $10.17 million or more, it will eclipse the astonishing record set by the Sunrise Ruby this past May.

That ruby weighed 25.59 carats and fetched $30.3 million ($1.18 million per carat). It was the first non-diamond to sell for more than $1 million per carat and tripled the record for the highest price ever paid at auction for a ruby.http://www.goldfirediamonds.com/blog